A-B Continues Share Losses

Dear Client:ABI reported fourth quarter and full year results this morning. In the U.S, wholesaler depletion were down 2% for the year (compared to -1% for the industry), and down 2.7% in the fourth quarter. Market share loss was about half a point for the year, which is a slight improvement compared to last year.Bud Light STRs were down by mid-single digits, down a half a share point, with some share loss in the premium light segment. "While Bud Light